Lux Industries Ltd reported an 89 percent rise in net profit to Rs 35 crore ($4.2 million) for the April-June quarter, as against Rs 18 crore in the year-ago period.
Lux Industries Ltd Q1 net profit rises 89 percent to Rs 35 crore – Lux Innerwear
The company’s revenue for the quarter rose by 3 percent to Rs 535 crore, as against Rs 521 crore in the corresponding quarter of the previous fiscal year.
During the quarter, the company launched its rainwear category under the brand ‘Lux Venus’ and opened an exclusive brand outlet for its brand Onn in Bangalore.
The manufacturing facility at Jagadishpur, Hosiery Park in West Bengal also became fully operational a giving a boost to its production capacity.
Lux Industries’ power brands performed well despite inflationary pressures with menswear brands registering volume growth.
The company said that the consumption demands during the quarter were subdued because of elections, inflation, and uneven weather patterns across the country.
Going forward, the company aims to strategically broaden its reach within established markets with increased focus on modern trade and e-commerce.
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